Tembec Industries Acquires Sawmills

Tembec Industries Inc. acquired, on October 31, 2003, two sawmills located in Senneterre and La Sarre from Nexfor Inc. and Norbord Industries Inc. The sawmills were purchased for approximately $80 million, including working capital. The acquired sawmills have a softwood allocation of approximately 1.1 million cubic metres per year and produce 260 million board feet of lumber annually. The acquisition will increase Tembec’s annual lumber capacity to more than 1.76 billion board feet.

Tembec Industries was represented by Fraser Milner Casgrain LLP, with a team that included Stephen Lloyd and Sophie Lizé (commercial) and Robert Béland and Véronique Théorêt (real estate). Nexfor and Norbord Industries were represented by McCarthy Tétrault LLP, with a team that included Daryl McLean and Martine Boucher (commercial), Alice Minville (real estate) and Andrée-Claude Bérubé (environmental).